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The Best Investing And Retirement Advice For Your 20s

The Best Investing and Retirement Advice for Your 20s

In this segment from Motley Fool Answers, Alison Southwick and Robert Brokamp break down a proper investing and retirement strategy by decade. First, the duo talks about people in their 20s. Early adulthood is often challenging on the financial front, which is why many young people get stuck focusing on short-term issues . . . like this month’s bills. But Bro says you should actually be focused on three things: long-term investing for your retirement, paying down debt, and getting your credit score buffed up. He also warns us about the biggest financial mistake people make at this age.

A full transcript follows the video.

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This podcast was recorded on April 18, 2017.

Alison Southwick: So let’s start with our listeners in their 20s. Your 20s are an exciting time. You’re starting to adult, you’re shopping at IKEA, and you’re thinking maybe you should maybe, at some point maybe kind of a little bit, start thinking about your finances some more.

Robert Brokamp: Maybe a little bit. The very first thing you should think about, because I’m the retirement guy at the Fool, is saving for your retirement, and if you start in your 20s you should be shooting for maybe 10% if not 15% of your income. That is how…

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